Canadian company Innergex has acquired eight wind farms in France from German developer WPD Europe.
The portfolio includes seven operating projects with a combined capacity of 87MW and one under-construction 44MW wind farm.
The total purchase price is €93m, of which €60m is for the seven operational projects. A further €10m is a deposit for the under-construction wind farm with the remaining €23m to be paid on commissioning.
The deal is expected to be finalised by 30 April, with the final project slated for completion in 2017. The power for all the projects will be supplied under 15-year terms to Électricité de France and SICAE Oise.
Innergex is expecting EBITDA of around CA$28m per year, it said.
“Establishing a foreign foothold is the cornerstone for the next growth stage at Innergex,” said Innergex president Michel Letellier.
“Furthermore, the transactions announced today lay the basis for the future development of Innergex in France, a highly attractive growth market.”
Image: Nordex
